Softbank theft of consumer data -information security, Computer Network Security

Assignment Help:

Example : Softbank – theft of consumer data for extortion

Softbank of Japan offers broadband Internet services across Japan through 2 subsidiaries – Yahoo! BB and Softbank BB. In the year 2004, the bank announced that the security of 4.5 million customer records which had been compromised: data from both subsidiaries had been illegally copied and disseminated. The leaked details included home phone numbers, customer names, addresses and email IDs, but did not involve passwords, access logs and credit card details.
Softbank became aware of problem only when they were approached by 2 groups of extortionists. The criminals produced genuine customer data and threatened that all of the data would be posted to Internet if they were not paid a large amount of money.

Japanese police made 3 arrests but suspected that there may have been connections to prearranged crime and the political far right. Astonishingly, the police concluded that there had in fact been 2 simultaneous, yet independent, extortion tries against Softbank, they masterminded by employees of the company. All of the people who were accused of extortion had been authorized to access the customer data; but it seemed that Softbank had inadequate procedures to protect against unwarranted copying and dissemination.

The bank immediately announced making strict policies of security, further restricting access to their systems and enforcing strict security on all of their subsidiaries. Profuse apologies were offered to affect the customers and ¥4 billion were paid in compensation. Further, Softbank BB’s president, Masayoshi Son, announced that other senior executives would take a 50 % pay cut for the next 6 months.

In this instance, the threat was to reduce the value of an organization by revealing information which should have been a well kept secret scarce within as well as scarce without. It cost company £20 million in compensation and affected the reputation of it.


Related Discussions:- Softbank theft of consumer data -information security

The effect the incident has on your business, QUESTION There are gener...

QUESTION There are generally five factors that will influence how you respond to computer security incidents- The effect the incident has on your business Legal issue

Introduction to security and personnel, INTRODUCTION TO SECURITY AND PERSON...

INTRODUCTION TO SECURITY AND PERSONNEL When implementing information security, there are several human resource issues that should be addressed. They are •    Positioning and n

Wireless local area network, a) Wireless local area network (WLAN) technol...

a) Wireless local area network (WLAN) technologies constitute a fast-growing market introducing the flexibility of wireless access into office, home, or production environments. G

Firewalls-information security, Firewalls A firewall in an information s...

Firewalls A firewall in an information security program that prevents specific types of information from moving between the outside world and the inside world. The firewall may

Security policies, implementing password policy in organisation

implementing password policy in organisation

Securities Issues in a company, 'Near Field Communication' (NFC) technologi...

'Near Field Communication' (NFC) technologies are expected to become commonplace in the near future. Some relevant features are these: A suitable device (such as a mobile pho

Project, Network diagram for a mediacal care

Network diagram for a mediacal care

CNSS Security model, "Using the CNSS Model, examine each of the cells and w...

"Using the CNSS Model, examine each of the cells and write a brief statement on how you would address the components respesented in that cell"

Backup, types of firewall and backup

types of firewall and backup

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd